Doha, October 01 (QNA) – The Board of Directors of Salam International Investment Limited (SIIL) has approved investments in two funds totaling $8 million. A statement released by SIIL and posted on Qatar Exchange website today said that the Board approved the investment of $5 million in Samena Special Situations Fund II LP, managed by Samena Capital which is a Premier investment group founded in 2008, focusing on principal investments in the Subcontinent, Asia, Middle East and North Africa.
The Board also approved $3mn (QR11mn) investment in a newest fund from Carlyle Group, an American global asset management firm specializing in private equity.
They approved acquiring a stake in a regional company, whose name was not disclosed, which owns and operates 16 trademark brand showrooms across the UAE, Saudi Arabia, Oman, Kuwait, Bahrain and Qatar.
The Board also accorded in-principle approval to the opening of new stores in one of the shopping malls under construction in Doha. The area under scrutiny ranges from 8,000 to 12,000sqm. In addition, it is also planning to open 20 shops specialized in international fashion, ready-to-wear and cosmetics brand, which are promoted by SIIL.
SIIL was established by Emiri Decree in 1998 and was enlisted in the Qatar Stock Exchange in 2000. (QNA)